Product Description

"50 Things You Must Know Before You Travel to Mexico," by former Associated Press Writer James Truett, contains vital information for anyone planning to travel to, live in or retire in Mexico. The 108-page ebook, based on the writer’s experiences living in Mexico for more than 10 years, provides insider tips and solutions to common problems that frequently confound and frustrate newcomers to Mexico.

The writer and editors have a combined 20 years experience traveling to and living in Mexico, so the tips in the book are based on very personal, up-close experiences and are intended to arm you with the bottom-line facts from people who already have lived the downside nightmares about which you frequently hear.

Product Details

• Amazon Sales Rank: #1837731 in Books
• Published on: 2006-04-28
• Original language: English
• Number of items: 1
• Binding: Paperback
• 108 pages

Review
"For the newcomer to Mexico, reading this book is a necessary act!" -- Bruce Berger, award-winning author

About the Author
James Truett is a former Associated Press Writer, who moved to Mexico in 1995 and cruised the Sea of Cortez for four years aboard his sailboat, "Tranquility Base" along with his faithful sidekick, Buster the Magic Akita. In 1998, he formed his company, TrueStar Marketing, to provide consulting in international cross-cultural promotion and internet marketing services. From his home in Cabo San Lucas, he works with clients in the U.S., Mexico and Ireland. Originally from Alaska, he is a citizen of both the U.S. and the Republic of Ireland.

Excerpt. © Reprinted by permission. All rights reserved.
Many Mexico travelers feel more secure when they use their American dollars to pay for purchases, but they don’t realize they’re paying a hefty premium for the privilege of paying with greenbacks.

Most stores, restaurants or other commercial establishments gladly accept U.S. dollars because they make a nice little extra profit by charging a stiff exchange rate.

Small stores almost always set their exchange rates at least one point below the bank’s rates, so they’re making an extra 10 percent or more on the transaction, based on an exchange rate that, as of this writing, hovers between 10 and 11 pesos to the U.S. dollar.

Unsuspecting visitors don’t realize that the difference in the exchange rate between the merchant and the bank is a hidden cost that effectively raises the purchase price by 10 or more percent.

It’s a nice little windfall for the small storeowner. If you keep track of all of your purchases, you might discover that you’re giving a lot of money away by paying in dollars and not watching the exchange rates!

Always pay in pesos! But make sure you’re not paying too much for your pesos…

How to exchange your money for pesos to get the best rates

Changing money always is a concern once you enter a foreign land. You have a variety of options for exchanging your foreign currency for pesos.

Some avenues are more expensive than others, so let’s take a look at various methods. Getting the best exchange rate possible is the key to getting the most value out of your hard-earned dollars.

Casas de Cambio, or Money Exchanges, used to be the preferred method of exchanging currencies. However, since banks have gone online with the rest of the International community, these money-exchanging services have generally lost their appeal, and essentially offer convenience at a price.

In major metro areas, there usually is a large Casa de Cambio that serves local merchants and offers favorable exchange rates. However, the small street-corner exchanges almost always charge a premium.

They have always made their money by setting their current exchange rates at a level that allows them to earn money on the transaction. Their services typically end up costing you more than it would to exchange your currency directly at a bank.

If you’re in a pinch, you certainly can get a better rate from Casas de Cambio than you normally would at a local shop, but nothing usually beats a bank’s rates. Banks set their own rates in relation to the International market, so don’t be surprised to find differing rates between banks. It helps to shop around.

Getting the bank’s best exchange without waiting in a long line

If you’ve ever been to a Mexican bank, you know they are notorious for long lines and slow service. Hour-long waits are not unusual. If you have paper money in hand and need to exchange it, you’ll have to wait in line, but if you just need to replenish your cash supplies with pesos, you’re in luck.

ATM machines linked to the international banking network usually are easy to find, especially in tourist areas. Even some of the smaller towns have bank machines you can use to access your funds back home.

Provided that your home bank does not charge exorbitant extra fees for foreign transactions, you’ll get the day’s International Monetary Fund exchange rates by withdrawing pesos from an ATM machine using your credit card or debit card.

How to get cash in the foreign currency before you leave home

The impact of the Internet seems to touch all areas of life these days, and currency exchange is one of those venues. Through several web sites, you can actually order foreign currency charged to your credit card and have it delivered by express courier right to your home.

Using a service like this for at least part of your travel stash can be a great convenience, and free you from worrying about finding banks or ATM machines to stock up on pesos as soon as you cross the border.